Belgium’s solar photovoltaic production was at 24.5 thousand terajoules in 2023, marking the base for our analysis. The forecasted production values for 2024 to 2028 show a continual upward trend indicating robust growth in this sector. Year-on-year, there is a consistent growth rate of approximately 7.4% from 2024 to 2025, 6.8% from 2025 to 2026, 6.3% from 2026 to 2027, and 5.9% from 2027 to 2028. The compound annual growth rate (CAGR) from 2024 to 2028 stands at approximately 6.6%, reflecting a stable increase in solar photovoltaic production in Belgium.
Key trends to watch for include advancements in photovoltaic technology, government policy changes, and investment in renewable energy infrastructure. These factors may accelerate the growth rate beyond current forecasts, making Belgium a notable market in the renewable energy sector.
